Cfo Thought Leader

Featuring the CFOs: Tom Berquist, CFO, TIBCO, Terry Coelho,CFO BioDelivery Sciences , Kevin Ingram,CFO, FM Global, Robert Linder, CFO, Lazy Dog Restaurant & Bar

For Rebecca Mahadeva, the late 1990s audit of a minor league baseball team was the type of rare career assignment that never failed to intrigue both accountants and non accountants alike. At the time, Mahadeva had been serving a variety of technology audit clients as a young associate for  Coopers & Lybrand when she added to her docket a major league baseball team otherwise known as the New York Mets.  “The Mets controller at the time engaged me to do a site visit and some compliance work on the financials of a single A team up in Canada known as the St Catherine’s Stompers,” explains Mahadeva, who says her visit’s findings were used to help bolster confidence behind the purchase price the Mets owners had divvied up for the single A team. Following the close of the deal, St. Catherine’s Stompers relocated to Brooklyn, and was subsequently renamed The Brooklyn Cyclones . The newly rebranded Cyclones became the first professional baseball team to play in the borough of Brooklyn since the Dodgers left for L

When Paul Ottolini is asked to share a personal trait—one that a family member might divulge to us— the seasoned finance leader tells us that he likes to cut his own lawn and that he is known for being “cheap.” Still, Ottolini makes clear to us that it’s more the satisfaction of completing a job and not the cost savings that regularly fuels his pursuit of manual tasks. “I’m smiling when I spread 10 yards of mulch,” says Ottolini, whose words perhaps provide a clue to his past as well as to a work life cadence with which one suspects that he has rarely if ever fallen out of step during his more than three decades of  career-building. The son of a chemist employed by General Motors Corp., Ottolini graduated from General Motors Institute (now Kettering University) after completing a co-op undergraduate degree that permitted students to pay for their education by alternating 3 months of classes with 3 months of work inside General Motors. Upon graduation, Ottolini joined GM, where he worked 2 years as a software

When Stéphane Berthier joined Uniphore of Palo Alto, CA, as CFO this past January, the move no doubt raised more than a few Silicon Valley eyebrows. For more than two decades, Berthier had served a list of prestigious Bay Area tech companies as a top audit partner for PricewaterhouseCoopers, where his impressive tenure had originally been kicked off by his relocation from France to better serve one of the firm’s most coveted Silicon Valley clients: Hewlett-Packard. During the next two decades, Berthier would become inducted into Silicon Valley’s coterie of familiar advisors and consultants known to provide sound advice to IPO-minded technology start-ups as well as software firms struggling to replace “on premise” customer revenue with new cloud-driven funds.   “I stayed 20 years and loved every aspect of client service—this was a tough decision for me, but I think that it was the right time,” says Berthier, who describes Uniphore as being uniquely positioned to pursue the fast-growing tech opportunities in co

When CFO John Collins is asked how his background in data modeling and strategy is influencing the role that finance plays inside LivePerson, the artificial intelligence (AI) software firm that he first joined 2 years ago, he draws our attention to the mountains of data accumulating alongside most businesses today. “Given the volume of data that exists and that the tools to transform it into information have not evolved very much, my taking over the CFO seat and building out this team under me is putting us on a path to better achieve more data efficiency,” explains Collins, while referring to the team that he’s dubbed “DMD,” or Data Models and Decisions. “Data is essentially an input into a model. The model may be rather simple and rules-based or it may involve more sophisticated machine learning, but the models manipulate and organize that data to produce useful information,” continues Collins. Still, what sets Collins’s data aspirations apart from those of his more traditional CFO peers is not the act of t

As Christian Geyer sees it, the path to the CFO office can begin just about anywhere. For him, anywhere happened to be the accounts payable department of a DC-area construction company. Having built numerous government facilities across the region, the company hired Geyer—along with three other “payables specialists”—to manage the process of paying for the expansive list of building materials that the company was constantly acquiring to use in the construction of its buildings. “I knew that if I stayed in step with the department’s typical rhythm, I would never go anywhere,” explains Geyer, who reports that shortly after his arrival, he converted what had been a 40-hours-a-week job into a 60 to 80 hours one. “I looked at the purchase order process as well as the payment approval process, and I tried to whittle these down to figure out where the bottlenecks were in order to make us more efficient,” recalls Geyer, who quickly began eliminating snags within the process while at the same time introducing new appr

A little more than a decade ago, Ron Knutson remembers, when he first stepped into the CFO role at Lawson Products, he quickly realized that the productivity improvements that he was expected to help drive would demand a number of significant infrastructure and technology investments. In anticipation of the investments that would need to be made, Knutson recalls, he first completed a “competency review” for every member of the finance team, a process that was in part designed to help flag those employees deemed well suited for training tied to future investments. “We wanted to make certain that we would be training the right individuals,” comments Knutson, who notes that the review ultimately led to “extensive” staffing changes as he sought to lessen the team’s overall dependence on existing systems and use new training to whet its appetite for the adoption and implementation of new technologies, including ERP software.     “Having these individuals go through the implementation process just made them so much

Looking back, AgroFresh CFO Graham Miao says that the decision to change careers early in his professional life was triggered more or less by resource allocation. Originally, Miao had trained as a biologist, but after having earned a doctoral degree in biology from Columbia University, he quickly found gainful employment as a scientist at a research facility run by pharmaceutical giant Roche. It was here amidst the daily pursuit of biological insights that Miao began to observe how finance and accounting professionals held sway over many of the resources needed to complete different projects. “It made you wonder, ‘What is it that accountants know about science that scientists don’t?,’” explains Miao, who after 5 years with Roche returned to Columbia to study business full-time. “At the time, my boss and colleagues thought that I was being crazy and that it was too risky,” remarks Miao, who notes that the pursuit of yet another degree required that he take out a student loan. Next, Miao joined JPMorgan, where

When Ed Goldfinger is asked to relate a moment of strategic insight that he has experienced as a finance leader, he draws our attention to his CFO tenure at Zipcar, the car-sharing upstart that targets the short-term needs of its customers by being billable by the hour as well as the minute. At Zipcar, Goldfinger would achieve the fabled CFO milestone of taking a company public. However, the biggest takeaways for him were related to the experience of growing a company widely recognized as an industry disrupter—and thus member of a cohort known as much for innovation in business modeling as for often startling deficiencies in benchmarking data. “You couldn’t point to any existing player and say that this was what we should look like over time,” explains Goldfinger, who notes that Zipcar grew from roughly $55 million to $300 million in annual sales during his term as CFO, a 6-year tenure that ended with the sale of Zipcar to Avis Budget Group in 2013. Among the more sizable obstacles that Zipcar’s finance team

When Michael Pickrum tells us about ExecOnline, the company that he joined as CFO back in 2019, he wants us to know that the education technology firm is aligned with his goals both professionally and personally. When it comes to the professional side of things, Pickrum says, ExecOnline in certain ways is a media company. “You’re taking some IP and figuring out how to distribute and monetize it,” comments Pickrum, while boiling down the somewhat complex approach that ExecOnline uses to repackage the curricula of top business schools and universities to better serve the specific people development needs of a variety of corporate clients. Still, Pickrum’s shorthand description is intended not to spotlight the facets of ExecOnline’s business model but instead to draw our attention to its similarities with his past media industry experience—such as his 17 years with BET Networks, where he occupied the CFO office for 9 of them.   As for the personal side of things, Pickrum says that he is a “big believer” when it

Back in 2015, after nearly two decades of diligent career-building across United Technologies, Paul Lundstrom fixed his career builder’s gaze upon the span of companies known as the Fortune 500. Like many seasoned finance executives who spend the balance of their careers inside large enterprise companies, Lundstrom had to confront the obvious truth that for every company, the CFO office has but one occupant. By all accounts, a Fortune 500 company was a worthy target for Lundstrom’s CFO ambitions, but here, too, the number of CFO roles quickly diminishes when you consider the industry-specific focus that spans the arc of Lundstrom’s career and those of so many others.   Finance executives often tell us that it was here within this realm of heightened ambition and shrinking opportunity that they dared to add one of the most satisfying chapters of their CFO careers, and so it was for Lundstrom. Last fall, the UT veteran landed safely inside the Fortune 500 world when he was named CFO of Flex, a $24 billion contr

This Episode Features Human Capital Insights & Commentary from: Dynshaw Italia, CFO, Soldo Brad Kinnish, CFO, Aryaka Will Bondurant, CFO, Castlight Health The Workplace Champions Podcast explores the innovative workforce practices of talent-minded business leaders tasked with opening a new chapter of growth for their midsize organizations. More keenly aware of the competitive price of employee burnout and workforce attrition — many midsize companies are today busy rethinking how they attract, hire and inspire employees.

According to Goodroot CFO Jim Harper, the best way to transform the current U.S. healthcare system is to replace its connective tissue. “It’s going to be a long slog and it’s got to be done one system at a time,” explains Harper, who uses the word “system” while referring to the individual points of connection that knit together healthcare’s patchwork of payers and providers. For Harper, connection points are where waste gathers within the larger system – and where companies often add unnecessary complexity in order to extract more dollars. “Because there is so much money flying through the systems there are a lot of organizations that have become involved here and they are greedy,” comments Harper, whose shares his opinion of the healthcare system as a preface to explaining the mission behind Goodroot.   Not exactly a business incubator, and not a private equity firm, Goodroot prefers to be dubbed a “community” of businesses dedicated to improving the current state of healthcare delivery.  Harper once more t

When CFO Robert Linder highlights what distinguishes the dining experience at Lazy Dog Restaurant & Bar, it’s easy to imagine him as a friendly host escorting us across a lively dining area filled with spirited patrons. “I love the hospitality industry, and I didn’t always know why—but I love to host and I love the interaction and taking care of someone and helping them to discover something new,” says Linder, whose words draw our attention to the universal splendor of dining out and its bitter absence from our lives during these past many months. From the start, we knew that our discussion would become focused on the pandemic and its impact on Lazy Dog’s business, yet we couldn’t help but want to linger as Linder listed the popular menu items from the restaurant that currently serves customers at 39 locations in seven states. In the end, we left it to Lazy Dog’s CFO to transport us back to earth with the not so enviable time of arrival being March 2020. “It’s hard not to point to something in the past ye

Years from now, when Castlight Health CFO Will Bondurant reflects back on the varied chapters of his finance career, he may title the current one “The Turnaround”—that is, if he and Castlight CEO Maeve O’Meara are able to achieve what the firm’s previous management team had not been able to: a strategy transformation. Like his CEO, Bondurant is not an outsider: After joining the firm in 2013, he was assigned a variety of strategy and financial planning duties that led to more influential product strategy and operational roles of the type that many aspiring CFOs eagerly seek out. As Bondurant shared with us his cross-functional journey, he mentioned few titles or promotions but instead drew our attention to a variety of experiences that has led us to conclude that Castlight’s future CFO first emerged as one of the company’s foremost problem-solvers. Says Bondurant: “If everything is working, you don’t always get the opportunity to fix something. The reason that I was able to have these opportunities is that we

When an inquisitive software analyst takes a seat across the table from TIBCO Software CFO Tom Berquist, the inquisitor may not know that TIBCO’s finance leader once sat on their side of the table and in certain ways still prefers it. From 1996 to 2006, Berquist added a distinguished equity research chapter to his career when he became a marquee analyst inside the software realm for a string of Wall Street investment houses—namely, Piper Jaffray, Goldman Sachs, and Citigroup. Seated across the table from the likes of Oracle’s Larry Ellison, Bill Gates (at the time, Microsoft’s CEO), and many others, Berquist asked probing questions and listened to the carefully crafted narratives designed to achieve “buy-in” on the company’s strategy from discerning analysts. “You would get pieces of information from each of the different companies, which gives you this incredibly powerful view of the market,” recalls Berquist, who even today seems to envy the analyst he once was. “The CEOs and CFOs would read your research a

It was a meeting that Planful CFO Shane Hansen tells us that he was not looking forward to. The SaaS developer’s FP&A team had discovered a “fairly large” forecasting error, and Hansen deemed it necessary to brief Planful CEO Grant Halloran on the matter. So, as planning teams are apt to do, Planful’s FP&A crew performed an extracurricular round of scenario planning—or what might more accurately be described as "CEO planning." Says Hansen: “We did our homework and put things together in order to be ready for whatever reaction Grant might come up with.” Halloran’s response: “Oh, that’s just a mistake. What can we do to improve?” Of course, whether the Planful CEO’s reaction was among those considered by the planning team in its anticipated responses is not the point. Instead, the tale of the forecasting snag allowed Hansen to bump our discussion concerning continuous planning into the continuous improvement lane. And make no mistake: Planful’s finance chief views these two realms as one and the same. O

If we were asked to boil down our discussion with CFO Gary Golden to a single word, our answer would be: “judgment.” It perhaps goes without saying that having good judgment is a prerequisite for every finance leader, and the quality frequently tops the list of reasons that CEOs give when asked to describe what sets apart one CFO candidate from another. Still, the word comes to mind not because Golden uses it—which he does multiple times—but because he routinely draws our attention to the “decision-making” central to every CFO position and the experiences that have helped to shape the judgment that he uses to make sound business decisions. Golden’s professional life began as a lawyer in a Dallas law firm, where his goal was to become a top mergers and acquisitions attorney, but along the way he jumped to American Airlines.  “One of the reasons I left private practice for American is that they had a reputation for moving lawyers onto the business side of things,” explains Golden, who says that attorneys freque

We seldom hear a finance leader tell us that they took a pass on a promotion early in their careers, so when CFO Ozan Pamir told us that as a 25-year-old associate he had turned down a vice president position with Echelon Wealth Partners, a Canadian investment banking firm that he had been with for only 2 years, we felt obliged to ask: “Why?” “I’d like to think that I’m a relatively self-aware person, and at the time I just did not feel ready—I thought that I had a little more room to grow and things to learn,” says Pamir, who had joined the banking firm as an IV analyst and was promoted in short order to associate—at which time he began managing other analysts.   “A year later, they offered me a vice president role again, and I accepted it at that time,” continues Pamir, who believes that the extra year as a “senior associate” served him well. “It gave me more time to learn how to better manage the analysts and how to take on responsibility when it came to managing certain deals,” explains Pamir, who notes t

It was roughly 12 months ago that Jason Eustace was named CFO of CuriosityStream, an upstart streaming media company launched in 2015 by Discovery Channel founder John Hendricks. For Eustace, CuriosityStream represents something of a flashback career chapter, arguably having more in common with the first 10 years of his finance career than the past ten. Turn back the clock 20 years, and Eustace could be found in the accounting department of the National Geographic Channel, which at the time was a newly formed joint venture between the National Geographic Society and Fox Cable Networks. “Nat Geo wanted to marry up their content with the distribution of the cable world, so it was a perfect marriage,” explains Eustace, who saw his responsibilities grow over a 6-year stint that ultimately landed him in a controller role. Controllership credentials in hand, Eustace then joined Discovery Communications, where he would serve in a variety of finance leadership roles over another period of 6 years. However, it was his